The U.S. Labor Department has approved Governor Matt Blunt’s request for an avoidance of a reduction of $50-Million in Federal Unemployment Tax Act tax credits that have been used to shore up the state’s Unemployment Insurance Trust Fund. Dan Mehan, President of the Missouri Chamber of Commerce, says this is great news for the state’s employers because they won’t be asked to spend more to keep the Fund solvent. Jim Kistler, Executive Vice President of Associated Industries of Missouri, says the good news comes from an improved economy and more Missourians working and paying unemployment taxes. Missouri’s unemployment insurance system began borrowing money from the federal government in 2003 because there wasn’t enough money to cover claims.
